Offshore drilling activity in UK waters rose by 64 per cent year-on-year in the second quarter of 2012 a new report suggests.

Accountant Deloitte said a total of eight new fields have come online in the North Sea so far this year, more than the total number recorded last year and more than double the number recorded in 2009 and 2010.

Activity levels in waters around Scotland far outstripped Norway for the same period, where drilling activity rose by 33 per cent in the second quarter, year-on-year.

Deloitte, which compiles drilling and licensing figures, found a total of 18 exploration and appraisal wells were drilled in UK waters in the second quarter.

Deal activity in the UK oil and gas sector in respect of field and prospect sales also rose by 46 per cent in the second quarter, year-on-year.

"We have some way to go before we are back to the levels seen in 2009 and 2010.

"However the positive announcements in the government's March Budget with regards to the extension and change in field tax allowances should encourage further exploration, appraisal and development activity.”

The Chancellor announced in March that new 'field allowances' which doubled the tax breaks for the development of smaller fields as well as a £3 billion allowance for deepwater fields, aimed at incentivising development West of Shetland, which is estimated to hold 17 per cent of the UK's remaining oil and gas reserves.

Sadler said changes in the UK tax regime aimed at encouraging exploration firms to increase activity in the North Sea were showing signs of having paid off.

He said although the full impact of those tax changes would not be realised until next year, the 27th licensing round “is likely to trigger more exploration and appraisal commitment from companies who are putting down plans for the next two to three years”.

He added: “With an improved fiscal environment and steadily high commodity prices, it is reasonable to assume that we will see an expansion on the exploration campaigns started during the last quarter.”